Gas prices have jumped in Nevada. What’s driving the spike?

By Mark Robison, Reno Gazette Journal 

Reno gas prices jumped over the past month in the wake of military strikes in the Middle East.

The average cost for a gallon of regular gas hit $4.616 in Reno on March 9, AAA reports.

Last month, that price was $3.85.

That’s a difference of 76.6 cents.

Diesel is even worse. Over the past month, AAA shows a gallon of diesel in Reno rose 40.4 cents.

Patrick De Haan, petroleum analyst for Gas Buddy, wrote on Substack that March 2 was the fourth highest single-day increase in gas prices at 12 cents.

Higher jumps happened on Jan. 1, 2005, at 14.4 cents; March 4, 2022, at 15.8 cents; and Aug. 31, 2005, at 18.1 cents, he reported.

One reason cited for the increase in gas prices: Iran says it has closed the Strait of Hormuz, a Middle Eastern export route that carries 20% of the world’s oil, resulting in a halt of petroleum shipments.

How much did gas prices rise in Las Vegas and Nevada overall?

In Las Vegas, gas prices are lower and the spike hasn’t been quite as bad.

The average price for a gallon of regular in Las Vegas is $4.354, while a month earlier, it’d been $3.558, according to AAA. That’s a difference of 79.4 cents.

Statewide, Nevada regular gas prices now average $4.297 a gallon, up from $3.561 a month ago.

One year ago, the average Nevada regular gas price was $3.805.

USA TODAY Network via Reuters Connect